Inside Logistics

Freight transport management to see nine percent growth

Report expects sector to be worth US$23.69 billion by 2019

January 15, 2015
by MM&D Online Staff

DALLAS, Texas—According to a new market research report published by MarketsandMarkets, the freight transportation management market is expected to grow from US$15.30 billion in 2014 to $23.69 billion by 2019 at an estimated CAGR of 9.14 percent from 2014 to 2019.

The report also emphasizes on key adoption trends, evolution of solutions, services, future opportunities, and business cases in this freight market. The increasing international trade, globalization, and growing population are demanding a greater deal of efficiency in logistics activities, to fulfill the on-time delivery demand of the end users. This has created an enormous opportunity for the vendors of this market to provide on-demand, real time updated and intelligent solutions.

Verticals such as roadways, airways, railways, and seaways are widely used for moving goods both inbound and outbound operations. Roadways has the major market share in the vertical and is expected to grow in the forecasted period; there is a lot of opportunity for the vendors offering their solution in the roadways as well as other verticals for managing freight transportation activities. Out of all the regions, North America is the largest revenue generator for the solutions and services in the freight transportation management market. APAC will show a significant rise in their revenues because of the
budding inter-trade and intra- trade that exists between different countries of Asia.